Incab employees receive long-pending dues after verification; NCLAT defers hearing to November 5
THE JHARKHAND STORY NETWORK Jamshedpur, August 5: Scores of former employees of Incab Industries Ltd. finally received their long-pending dues on Wednesday…
THE JHARKHAND STORY NETWORK
Jamshedpur, August 5: Scores of former employees of Incab Industries Ltd. finally received their long-pending dues on Wednesday after the Office of the Resolution Professional (RP) completed the verification process, bringing relief to workers whose claims had remained pending following the first round of disbursement on July 14.
The payments, credited directly to employees’ bank accounts, ended weeks of uncertainty for beneficiaries whose dues were withheld because of verification-related issues.
“We had been anxiously waiting after our dues were left out in the first round of disbursement. Today the amount has finally been credited to my bank account. It is a huge relief for my family and many others who were waiting like me,” said a former Incab employee.
The latest disbursement marks another significant milestone in the implementation of the approved resolution plan for Incab Industries, even as the company’s revival remains entangled in litigation before higher judicial forums.
Employees whose claims had remained pending due to discrepancies or verification requirements have now received their payments following completion of the scrutiny process by the Resolution Professional’s office.
NCLAT Adjourns Incab Appeal to November
Meanwhile, the National Company Law Appellate Tribunal (NCLAT), New Delhi, on Wednesday adjourned the hearing in the Incab Industries matter to November 5, 2026.
According to sources, the appellate tribunal indicated that the matter is likely to be taken up after the Supreme Court delivers its judgment in a connected case, which is expected next month.
The matter was heard by a Bench comprising Justice Yogesh Khanna (Officiating Chairperson), Barun Mitra (Member-Technical) and Ajai Das Mehrotra (Member-Technical).
The appeals have been filed by Shambhu Sharan Pandey against Pankaj Kumar Tibrewal, Resolution Professional of Incab Industries Ltd., and others.
Supreme Court Verdict Expected to Influence Case
Sources familiar with the proceedings said senior counsel Akhilesh Srivastava could not persuade the Bench on the grounds advanced in the appeal, following which the matter was adjourned.
Advocate Akash Sharma, appearing in the matter, informed the tribunal that certain NCLAT orders have already been challenged before the Supreme Court.
According to Sharma, the apex court’s decision is expected to have a direct bearing on the pending appeals, prompting the NCLAT to defer further proceedings until after the Supreme Court pronounces its verdict.
Long Road to Revival
Incab Industries, once among India’s leading cable manufacturers with major manufacturing facilities in Jamshedpur and Pune, has remained under insolvency proceedings for several years after its operations came to a halt.
The company’s revival gathered momentum after the National Company Law Tribunal (NCLT) approved the resolution plan submitted by Vedanta Ltd. under the Insolvency and Bankruptcy Code (IBC).
However, implementation of the resolution plan has continued to face legal challenges from various stakeholders, including former employees and other parties, over issues relating to the insolvency process, distribution of dues and execution of the approved resolution plan.
PF Case Hearing on August 24
With another batch of former employees now receiving their long-awaited payments, attention has shifted to the Supreme Court proceedings, which are expected to significantly influence the future of the long-pending revival process.
Meanwhile, another crucial hearing before the NCLAT concerning employees’ provident fund (PF) dues is scheduled for August 24, a development being closely watched by former workers and other stakeholders.
